Compensation services

Skilled compensation experts ready to lend a hand

Effective compensation strategies require ongoing evaluation and adaptation. Offering deep technical knowledge, an understanding of unique industry challenges, and a flexible approach, let us come alongside your team to assist with creating and managing your pay programs. You’ll find the expertise and guidance you want and achieve the outcomes you need in a timely, cost-effective manner. Whether it’s a one-time project or ongoing support, you’ll benefit from having industry-leading data and a skilled team of compensation professionals to help you meet your compensation needs.

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Do you need a compensation consultant?

Maybe you’re down a team member and overburdened with other projects. Or, perhaps you’re new to the world of compensation and not sure where to start. It could be that you’re just not sure how to solve a particular problem and need an outside perspective or partner with new ideas.

Compensation services, or compensation consulting, provides you with insights and actions to ensure your pay programs are effective and that employees are fairly and appropriately rewarded for their contributions. Covering a range of activities, these services help organizations maintain competitive compensation practices, comply with legal requirements, and foster a positive and productive work environment.

A compensation consultant can fill your current HR gaps by providing valuable insights, expertise, and guidance to help you develop and manage effective compensation programs that align with your organization’s goals and support your talent management strategies.

  • Market insights
  • Compensation program design
  • Compliance and legal considerations
  • Cost optimization
  • Performance management

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Speak with one of our client service representatives, who will review your current needs and explain how Mercer can help. No cost. No obligation.

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What compensation services are available?

From augmenting onsite teams to fulfill day-to-day tasks to discrete market pricing projects, and a whole host of other services, you can rely on the Mercer team of compensation experts. Our tailored approach means we can provide exactly what you need. Here’s a sample of the services available:

Market Pricing

From developing your pricing methodology to job matching and developing market composites using multiple data sources — we can do it all!

Compensation Review

Are you suspicious that your jobs might not be in the right salary ranges? Are you having trouble getting candidates to accept offers based on your compensation package? Let us conduct a compensation review to identify where there are opportunities for improvement.

Competitive Assessment

Already have your jobs market priced but don’t know what to do next? We can take a look at your market pricing and help you determine your target market, current positioning, and areas for improvement.

Compensation Training

One of the most common challenges facing managers today is having conversations with their employees about pay. Mercer can develop training materials for managers that will give them the confidence to address their employees’ most challenging questions.

Compensation Philosophy Development

Your success depends on having a clear compensation philosophy in place that is supported by leadership and openly communicated to employees. Working with you, we will develop a compensation philosophy that aligns with the company’s vision, mission, and values and present it to your company leadership for buy-in.

Job Description Development

In many cases, good job descriptions drive recruiting, performance management, employee engagement, and competitive compensation. Keeping them up to date — or getting them there once they’ve fallen by the wayside — can be a monumental task. Mercer is experienced in identifying the necessary components of the job descriptions for your organization, meeting with managers to flesh-out the jobs, and drafting the job descriptions themselves.

Salary Structure Development

Until now, have you been determining pay on a case-by-case basis? We help companies determine what type of pay structure is the best fit to support your talent strategy. We can do all the modeling and regression analysis, leaving you with a working structure, assured that your jobs are now properly positioned within ranges.

Policy Development

Mercer can start by looking at your current compensation policies to identify opportunities for improvement or we can start from a blank page. You often know when a policy just doesn’t seem right, but the way to “fix” it isn’t always clear. You can rely on our broad experience and access to data to help you determine the policies that are right for your organization.

Incentive Plan Review and Design

Mercer can assess how your plans are performing now and the degree of alignment to your business objectives, gather feedback from employees and leaders, and suggest an alternative design based on industry experience and modeling. Or, perhaps you need someone to administer your incentive program — we can do that too!

Job Architecture Development

In partnering with Mercer, we will help you take the catalog with all of its duplicates, redundancies, and unclear or incorrect titles and emerge with a job architecture that is clear and easy to communicate. The outcome can support your internal HR processes and provide employees with a clear view on job families and career paths.

Survey participation

Let us do the work for you during survey participation season, leaving you free for everything else on that “to do” list.

Are compensation services right for you?

Every company can benefit from added capacity and an objective voice. Whether it’s a simple task or a large-scale project, we can help. Think of us as partners, there to provide you with support and lend our expertise to your projects, with the ultimate goal of making you successful. Our scalable consulting style lends itself to any arrangement and any budget. Ready to connect? Request your free needs assessment today.

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